‘Phantom’ carbon credits or a transparent attempt to innovate?
Shell Climate Change Blog
by dchone
2w ago
In the past week, a story published by the Financial Times based on a report from Greenpeace claimed, inaccurately, that Shell had benefited from selling “millions” of Canadian carbon credits that were not traceable to a direct emission reduction. In fact, the carbon credits in question come from the gold standard for managing CO2 emissions, a carbon capture and geological storage project (CCS). There is a story to be told about this, but it isn’t the one you’d have read in this weekend’s article. It’s also a story that involves me. The story dates back to the early 2010s as Shell (and its JV ..read more
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Temperature, tensions and two scenarios
Shell Climate Change Blog
by dchone
1M ago
Just a year ago the scenarios team in Shell published The Energy Security Scenarios, a look at the world through the dual lenses of climate change and rising security concerns. Today, the two scenarios seem more prescient than ever as ongoing events continue to reinforce these two very separate directions of travel. The two scenarios are Sky 2050 and Archipelagos. Both start with the realities of the 2020s, meaning that the energy system and future energy policy landscape are showing real signs of change, but also recognising that there is little in place on the scale required to reduce emissi ..read more
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Seeing the forests and the trees
Shell Climate Change Blog
by dchone
2M ago
I was fortunate to be in Brazil recently and as part of the trip I visited the offices of Carbonext1 in São Paulo, one of the leading companies in the voluntary carbon market space, in this case currently focused on avoided deforestation projects. They are engaged in projects that, in total, are conserving between 1.5 and 2 million hectares of Amazon rainforest. The rainforest itself covers an area of some 670 million hectares, but much of this land isn’t necessarily under immediate threat. Rather, the strategic focus of the company is along the southern border of the rainforest, in effect cre ..read more
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The EU in 2040 – systemic change is now required
Shell Climate Change Blog
by dchone
3M ago
On February 6th the European Commission published its Communication and Impact Assessment (IA) for a 2040 Climate Target for the EU, recommending a net greenhouse gas (GHG) emissions target of 90% against a 1990 baseline. According to the IA, this means less than 850 MtCO2-eq of GHG emissions remaining in 2040. Scenario analysis provides a useful mechanism for looking at such future goals, so this discussion is in part framed around the EU data in our two Energy Security Scenario stories, Archipelagos and Sky 2050. These are stories that are full of technology and innovation, with rapid c ..read more
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Schrödinger’s COP?
Shell Climate Change Blog
by dchone
4M ago
From the perspective of the UAE Consensus and the progress made on Loss and Damage, the COP process is very much alive and the UAE Presidency should be congratulated on all that they managed to achieve. But if you are a keen follower of progress on Article 6 of the Paris Agreement, a vibrant living and developing process was hard to see. In this post, my colleague Malek Al-Chalabi discusses COP 28 from the perspective of the Article 6 negotiations. Malek co-Chairs the International Working Group within the International Emissions Trading Association and is the Senior Carbon Pricing Policy Advi ..read more
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Green Dream or Innovation Wins?
Shell Climate Change Blog
by dchone
6M ago
I recently attended an emission trading conference in Paris and like many such events in the EU now, one of the first items on the agenda (and in this case it was the first) was a presentation and discussion on the US Inflation Reduction Act (IRA). The fact that the IRA isn’t an emissions trading system didn’t matter. The IRA has upended the climate discussion in the EU in that projects are happening in the US, and change is underway, while a key green technology sector like the EU wind industry is facing headwinds. After years of attempting to implement carbon pricing but finding it to be pol ..read more
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The pencil problem
Shell Climate Change Blog
by dchone
8M ago
Many years ago the well know economist Milton Friedman made a short film about pencils that continues to resonate today. While the film can be interpreted as simply a defence for capitalism, which Friedman was famous for defending, it nevertheless does make a good point about the complexity of the world we live in. The manufacture of an item as simple as a pencil requires such a wide range of resources, skills, machines and knowledge that no one person could easily craft a pencil as refined as the product we can buy for not very much money in a local shop or online. The steps to make a pencil ..read more
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Developing countries hold the key to reaching Net Zero Emissions
Shell Climate Change Blog
by dchone
9M ago
A guest post by my scenario team colleagues Thomas Akkerhuis and Georgios Bonias In a few days, leaders from the world’s largest economies will gather in India for the 2023 G20 summit. The G20 Presidency has included Green Development as one of the main themes of the summit with a specific mention on ‘ensuring just energy transitions for developing countries’. At the same time, given the volatility and uncertainty in energy markets, many countries are looking to secure their own energy sources, with fossil fuel extraction as part of plan. Looking forwards, how might the emerging and least deve ..read more
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Direct Air Capture is coming fast, sort of!
Shell Climate Change Blog
by dchone
10M ago
For the people in a scenario team, it’s always exciting when something that you have discussed in your work suddenly starts to appear. It’s even more exciting when it happens in the company that you work for. So it is with direct air capture (DAC).   Last week Shell announced it has taken the decision to build a DAC industrial-scale demonstration unit at the Shell Technology Center Houston (STCH), in the USA. With a targeted start-up in 2025, the company aims to prove the technical viability of its in-house developed solid sorbent technology. Shell’s Direct Air Capture technology discuss ..read more
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It’s climate target season, but one more target is needed
Shell Climate Change Blog
by dchone
10M ago
One of the features of an upcoming COP is that the months prior often bring with them a slew of proposals for new global targets and initiatives. This year is no different, perhaps also driven by the extreme heat and precipitation that has been challenging the Northern Hemisphere. In July, COP 28 President, Dr. Sultan al-Jaber, put forward a proposed COP28 action plan in a letter to the Parties. Along with a number of calls for increasingly rapid transformation and improved financing for developing countries, the plan includes the following three specific energy system targets which were also ..read more
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